US president Clinton will release a report later this month warning that US federal expenditure on IT research is inadequate to maintain its lead over other nations.
Developments like the Internet will no longer begin and be driven by the US warns the report unless IT spending keeps pace with its growing impact on society and business.
The report was put together over a year by 24 academics and senior vendor representatives.
High end computing and software are expected to be two of the areas targeted for increased investment within universities and government departments. An agency to manage and drive funding could also be created within the National Science Foundation, a government body which, among other roles, oversees the Internet domain system.
A similar type of report done for the UK government at the end of last year warned that the UK was falling behind Europe because of insufficient funding of R&D.
AMD's Zen chip roll-out continues with the focus on high-power embedded applications
And becomes the team's executive chairman to boot
'Whatever the causes of political polarisation today, it is not social media or the internet,' claims Dr Grant Blank
Tesla founder leaves OpenAI group - while Valve Software's Gabe Newell joins